if i actually did some research on it, my posting would fall out of the “nothing useful” category. besides, he didn’t post an address, i don’t have historical price data at my fingertips and i’m going on median prices circa 2000.
asia:
taking year 2000 median (200k) and making assumptions about escondido condo values relative to the median, 190k seems high, neglecting inflation… and interest rates. 1000/mo @ 5.25 seems generous… are rates really that low for the average buyer without 800+ credit score? add the ancillary costs/tax benefits, how does it compare? finally… it’s still escondido.
bottom line, my question was merely posed to the op: he isn’t concerned if prices fall to 190 from 210, but how would he feel about a much larger fall. this snowball is only now picking up steam, the rate of decline is increasing and prices a mere 6 months from now may be astounding. although, i do think a decent bump will be had this spring and summer from people like the op who really want to buy and are will to take what they imagine will be only a small bit of a hit.
